Ayobamiji Komolafe 
Nigeria’s inflation rate saw a slight reduction in August 2024, marking a rare easing amidst the ongoing economic challenges.
The National Bureau of Statistics (NBS) disclosed this on its latest report which showed that the inflation rate decreased compared to previous months.
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Inflation rate eased further to 32.15 per cent in August 2024 relative to the July 2024 headline inflation rate of 33.40 per cent, the NBS announced on Monday, September 16.
Despite the decline, inflationary pressures remain high due to factors like rising food prices and the ongoing economic reforms.
The NBS, however, said the Federal Government will continue to address these issues through monetary and fiscal measures aimed at stabilizing the economy.
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